Salem, OR – Thursday, the Oregon Department of Revenue released the latest revenue forecast, predicting enough additional tax revenue to trigger the “kicker” and return an expected $349 million to Oregon taxpayers.

“Boosted by lower energy prices leading to more disposable income, Oregon’s economy is on the rise, and the voter-enacted kicker will boost this prosperity,” said Senate Republican Leader Ted Ferrioli (R-John Day). “Democrats voted to undermine growth in our economy by approving SB 342, a hidden gas tax. The kicker will give working families some financial relief, putting $349 million from the voter-approved kicker back in the hands of working Oregon families. This is a cause for celebration.”

“This revenue forecast gives us the certainty to we need to finally fund K-12 education at $8 billion,” explained Senator Tim Knopp (R-Bend). “With this extra tax revenue from economic growth and higher wages, we have no excuse for shortchanging Oregon classrooms. This is our green light to immediately and fully fund K-12 education at $8 billion so school districts have the certainty they need to plan for next school year.”

Statement From House Republican Leader Mike McLane On Revenue Forecast

“Thursday’s revenue forecast brings welcome news to the people of Oregon: our economy has produced enough tax revenue that we have hit the kicker. The projected $349 million individual income tax kicker will provide much needed tax relief to hard-working Oregonians across the state.

“While our state economy is projected to continue to grow, we must remain focused on addressing the issues facing both our rural and urban communities, including creating and attracting family-wage jobs and improving infrastructure and public safety across the state.”